Caixin
May 20, 2022 03:31 PM
FINANCE

Onshore Yuan Trading Surges During Evening Extended Hours

The yuan is Asia’s worst-performing currency this month with a loss of 2.3%. Photo: Bloomberg
The yuan is Asia’s worst-performing currency this month with a loss of 2.3%. Photo: Bloomberg

(Bloomberg) — Yuan trading at night is gaining momentum in China, supporting Beijing’s plans to extend market hours and further its aims to internationalize usage of the currency.

Onshore yuan transactions between 6:30 p.m. and 11:30 p.m. local time have reached a daily average of $834 million in May, up from $671 million over the course of last year. That’s almost ten times what was seen back in 2017, when Bloomberg started compiling the data.

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